Category: Personal Finance

  • 4 Simple Backdoor Roth IRA Steps Every High Income Earner Needs To Know

    4 Simple Backdoor Roth IRA Steps Every High Income Earner Needs To Know

    Doctors, dentists and other high income earners are constantly looking for ways to lower their tax burden, especially when retirement rolls around. One of the best methods to achieve this is via the Backdoor Roth IRA. There have been numerous articles written about backdoor Roth IRA steps you can take to convert your traditional IRAs…

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  • 11 Baby Boomers Retiring Statistics That You May Not Know

    11 Baby Boomers Retiring Statistics That You May Not Know

    My parents are in the baby boomers category (born between 1946 and 1964) which make up over 25% of the U.S. population. This age group was the largest generational group in U.S. history (about 77 million) up until the millennial generation recently surpassed them. They have and continue to have a significant impact on the economy. Here are…

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  • Top 401k Early Withdrawal Exceptions for 2021 and Beyond

    Top 401k Early Withdrawal Exceptions for 2021 and Beyond

    One of the most popular U.S. retirement plans is the 401(k). It seems as if each time I listen to the Dave Ramsey show, there’s usually a caller asking the question, “Should I use my retirement money to pay off debt?” There are consequences to doing this but also several 401K early withdrawal exceptions that you…

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  • The Hedonic Treadmill – Why Stuff Won’t Make You Happier

    The Hedonic Treadmill – Why Stuff Won’t Make You Happier

    Recently I came across the idea of the Hedonic Treadmill in the fantastic book, The Happiness Curve: Why Life Gets Better AFTER 50 by Jonathan Rauch. This wasn’t a phrase that I’d heard of before but have experienced numerous times in my life. I occasionally get ideas for topics to write on through other personal finance blogs for…

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  • How To Live Frugally and Pay Off Debt From 6 Finance Bloggers

    How To Live Frugally and Pay Off Debt From 6 Finance Bloggers

    A long time ago in a galaxy far, far away. Sorry. You caught me reminiscing when I used to be a lowly dental student. Back then I didn’t give much thought about how to live frugally and pay off debt. Heck, I was going to be a dentist, make tons of money and live happily…

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  • Medishare Review – How I Saved $1116 a Month

    Medishare Review – How I Saved $1116 a Month

    Medishare Review – How I Saved $1116 a Month Are you tired of paying too much for health insurance? I was too & decided to do something about it. So in January, when our monthly bill (family of 4) jumped from $480/month to a whopping $1596/month, I knew a change was needed. I had heard…

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  • Truett Cathy: 9 Interesting Facts About The Chick fil-A Founder

    Truett Cathy: 9 Interesting Facts About The Chick fil-A Founder

    Which fast food restaurant is known for their top-notch customer service? If you guessed Chick fil-A, you’d be correct (IMHO). Samuel Truett Cathy, founder of Chick fil-A, was one of the world’s wealthiest people at that time of his death in 2014 (age 93) but his story is what makes him so great. “We change…

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  • 3 Shocking Reasons Why There’s a Baby Boomers Retirement Crisis

    3 Shocking Reasons Why There’s a Baby Boomers Retirement Crisis

    I recently surprised my wife with a tennis birthday trip to Key Biscayune, FL. While relaxing by the pool, I read an article from the Wall Street Journal titled, “Time Bomb Looms for Aging America” which opened my eyes to the baby boomers retirement crisis my parents generation are facing. (Before you chastise me, I…

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  • 7 Secrets You May Not Know about the Top One Percent

    7 Secrets You May Not Know about the Top One Percent

    Who Are The One Percent? What about the One Percenter income? We typically here the term “one percenter” tossed around rather loosely in the news these days. So, who exactly is a “One Percenter?” We know for a fact that those that fall into this category own the majority of the world’s money. I don’t…

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  • How Much Do You Need To Retire?

    How Much Do You Need To Retire?

    How much money do docs need to retire on? Well… it depends on many factors. When I first posted this question back in March 2018 on the DentalTown.com forum; I had no idea it would attract so many eyeballs (over 7000 views as of this writing!) Before we discuss the details, let’s highlight a few fun facts…

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  • How To Become an Automatic Millionaire

    How To Become an Automatic Millionaire

    Do you REALLY know how the stock market works? Most people don’t. If you want to become an Automatic Millionaire, you must learn the basics when to buy and when to REALLY buy investments. Here’s a crash course for you… A few years ago I insisted on taking over control of my parents finances. I…

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  • The 7 Lessons I Learned From Becoming Warren Buffett

    The 7 Lessons I Learned From Becoming Warren Buffett

    A friend of mine recently told me to watch the HBO documentary, “Becoming Warren Buffett.” After watching it, it was very scary how alike he was growing up to our youngest son. Maybe we’re raising a future billionaire! Watch a preview of the documentary here:   The 7 Lessons I Learned From “Becoming Warren Buffett“…

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